AP highlights AI, IoT and entrepreneurial growth

Davos: The second day of the Global SME Summit on Thursday showcased technology-driven transformation, entrepreneurship, and cross-border business collaboration as central themes for the small and medium enterprises (SMEs).

Andhra Pradesh Minister Kondapalli Srinivas while addressing the delegates here outlined the state’s strategy to integrate Artificial Intelligence (AI) and the Internet of Things (IoT) across the state’s MSME sector. He highlighted the initiatives such as establishing new industrial parks, promoting startups in universities, and facilitating global market access, positioning Andhra Pradesh as a hub for technology-enabled SME growth.

Minister Srinivas said, “We are building skilled talent in collaboration with academic institutions and industry. Our incubators, including the Ratan Tata Innovation Hub, support startups and enhance GDP, while reducing operational costs. With streamlined logistics, improved ports and airports, and single-window mechanisms, we aim to provide hassle-free support for investors and entrepreneurs.”

He further emphasised AP’s policies for sectors like EV and solar manufacturing, aerospace, waste recycling, textiles, and tourism, highlighting the state’s commitment for transparent governance, e-governance, and sustainable development. The session highlighted the emerging technologies in modernising SME operations, strengthening supply chains, and fostering inclusive growth. Panelists encouraged startup founders to scale creative ideas into global enterprises, while financial experts, including Philip J. Weights from the Swiss FinTech Association, shared insights on financial resilience and inclusive SME growth strategies.

With strong participation from South Asian leaders and global stakeholders, the summit reinforced optimism about SMEs driving innovation, partnerships, and resilient growth in the evolving global economy.